Ola Electric Secures Dominance in EV Patents

By siliconindia  |  Monday, 04 March 2024, 11:18:21 AM IST

Ola Electric Secures Dominance in EV Patents
Indian electric vehicle (EV) giant Ola Electric has asserted its dominance in the patent landscape, emerging as the leading publisher in the country for the 2022-23 period. Intellectual Property India data reveals that Ola Electric has showcased its commitment to innovation by publishing a remarkable 205 patents in the EV and EV-related technologies sector. This places the company ahead of competitors, with TVS securing the second spot with 156 patents.
Ola Electric, currently gearing up for its Initial Public Offering (IPO) with plans to raise Rs 5,500 crore, has underlined the significance of research and development (R&D) in its business model. The IPO draft papers filed with the Securities and Exchange Board of India (Sebi) indicate that a portion of the funds will be allocated specifically for R&D, with Rs 1,600 crore earmarked for this purpose.
The company's commitment to technological advancement is evident in its global footprint, with R&D centers in India, the UK, and the US. Ola Electric's research efforts extend across various crucial areas, including battery technology, EV software, vehicle safety, controllers, motors, transmissions, artificial intelligence, and other related technologies.
Beyond India, Ola Electric has sought to establish its presence in the international patent arena, with 10 registered patents and 37 pending patent applications in countries like the US, UK, China, Japan, and Australia. The company's financial dedication to R&D is substantial, with over Rs 725 crore invested in the past three years and an additional Rs 93 crore injected in the first quarter of fiscal 2024, as detailed in its IPO draft papers.
As Ola Electric takes the lead in patent publishing, it emphasizes its unwavering commitment to driving innovation and pushing the boundaries of the EV industry. With its imminent IPO, the company's dedication to R&D and cutting-edge technology stands as a cornerstone of its future endeavors, solidifying its position as a pioneering force in the rapidly evolving electric vehicle landscape.

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